Elvis Has Left the Stock Market

CKX Inc., which has licensing rights to the King's Graceland estate and American Idol, goes private in a $1.3 billion deal

Capitalizing on the great success of the hit TV show American Idol and its music sales, as well as enjoying the rights to Elvis Presley's Graceland estate, CKX Inc. (CKXE) said it would be taken private by its CEO in a $1.33 billion buyout. The shares jumped 35% to $14.40 during trading on the Nasdaq June 1 on the news.

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